THE Philippine Insurance Commission (IC) should take a closer look at the way foreign reinsurance brokers operate within the country after it was reported that the Financial Conduct Authority (FCA), a UK-based financial regulatory body, is probing five global reinsurance brokers for allegedly sharing sensitive information involving aviation insurance accounts.
The firms reportedly being probed are Aon, the Jardine Lloyd Thompson (JLT) Group, Willis Towers Watson, UIB, and Marsh.
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